More cost overrun from Bakun. WCT that owns an effective 7.7% stake in Malaysia-China Hydro Joint Venture, the consortium that was awarded the RM1.8bn CW2 Package of the Bakun Hydroelectric Project (Bakun) in 2002, may have to recognise more losses from the contract. Sime Darby, the lead member of the consortium with an effective stake of 35.7%, said yesterday that “there could be a potential additional cost attributable to the group (Sime Darby) of RM450m”. This means there may be an additional RM1.26bn cost overrun incurred at the consortium level and WCT’s share
will be RM97m, translating to 12.4sen/share.
WCT Berhad : Potential Share Of Additional Bakun Cost Overrun Amounting To RM97m-14/05/2010
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